How to buy Shiba Inu (SHIB) coin in Australia (2022)?

Disclaimer: We purchased Shiba Inu from a local cryptocurrency exchange in Australia to assist us in writing this review on how to buy Shiba Inu in 2022. Crypto assets involve significant risks and are highly speculative.

If you want to buy Shiba Inu coin in Australia, you’re in the right place. We have evaluated several legitimate exchanges to bring you this “how to buy Shiba Inu tutorial. This guide is fully updated and specifically for AU traders (2022 version). We will guide you on buying Shiba Inu coin step by step on three exchanges. All these exchanges are 100% legitimate and trusted by literally millions of AU buyers. Each exchange to buy Shiba coin mentioned here is included in our 5 best exchanges in Australia

Where can I buy Shiba Inu coin in Australia?

how to buy shiba inu in Australia

How to Buy Shiba Inu on coinspot? (step by step)

1

Step 1

Go to the Coinspot website and register by filling out your email and creating a password.

2

Step 2

Complete the verification as per the requirements

3

Step 3

Go to the “buy/sell” page and type “SHIB” click on the “BUY SHIB” tab and enter the amount in AUD you wish to purchase

3

Step 4

Congratulations, you now own SHIBA INU coin; it’s that easy!

#1 Coinspot

Disclaimer: We purchased Shiba Inu coin on this exchange to assist with the information provided.

PROS

  • Create “watchlists” and see your portfolio grow directly from the Coinspot dashboard.
  • Easy-to-use interface, purchase Shiba Inu on the go.
  • Easily swap coins. For example swap directly from Shiba Inu to BTC (at a lower fee)
    Before reviewing this site, we purchased, sold and swapped over 50 tokens (including the Shiba Inu coin in 2022)
  • Coinspot offers two-factor authentication for security. When signing in, a code is texted to your smartphone. A 6 digit number has to be entered to verify your identity.
  • No major hacks
  • Speedy withdrawals when selling Shiba Inu and transferring money to your bank account. A few instances were when we put in a withdrawal request, and the money was back in our nominated bank account an hour or two later.
  • AUSTRAC regulated, and ISO certified

COINSPOT

RESPONSIVE CUSTOMER SERVICE & LOW MARKET ORDER FEES

4.8/5

RATING 4.8

Thinking of buying crypto rating

300+

Market Orders 0.1%

Instant buy & Sell 1.0%

● PayID
● POLi
● Crypto
● Cash
● Bpay
● Bank Transfer Here

How to Buy Shiba Inu coin on Swyftx?

1

Step 1

Go to the Swyftx website and sign up. Fill in the respective details and click on “create account”, and verify your account to proceed.

2

Step 2

Deposit funds and get ready to buy Shiba Inu coin

3

Step 3

Now for the fun part, right? Go to the menu and click on the “trade” tab—type “SHIB” in the search. You’ll now see the SHIBA Inu coin price. Enter the amount you wish to purchase in AUD.

3

Step 4

Click the blue “instant buy button” to confirm your purchase in the green pop up, and just like that, congratulations, you now own the Shiba Inu coin.

#2 Swyftx

Most Trusted Aussie Exchange to buy Shiba Inu coin in 2022

PROS

  • No fees on deposits and withdrawals for Australian users
  • Low trading fees provide an excellent opportunity to buy Shiba Inu coin
  • Access to price charts
  • Multiple cryptocurrencies available for trading
  • Demo trading feature for new users
  • Several payment methods available on the platform
  • Allows staking for various coins
  • Tax reporting feature
  • Biometric login feature for extra security
  • Real-time price feeds are available

SWYFTX

HIGHLY TRUSTED

4.7/5

RATING 4.7

Thinking of buying crypto rating

290+

0.6%

● PayID
● Osko
● POLi
● Crypto
● Bank Transfer

How to Buy Shiba Inu coin on Coinjar? (Step by Step)

1

Step 1

Go to https://www.coinjar.com/ and click on “signup” (top right corner). Fill in the respective details and verify and confirm your account.

2

Step 2

click on the “prices” tab, scroll down to “SHIB”, and enter the amount of AUD you wish to purchase. Confirm your details are correct.

3

Step 3

The transaction will generate. Congrats, you now own the Shiba Inu coin.

#3 Coinjar

PROS

  • Support for stablecoins and fiat currencies such as AUD and GBP
  • Coinjar card offers attractive cashback
  • OTC desk for institutional clients
  • Free to deposit in AUD and a cash deposit option available at 1.5%.
  • Recurring buy feature through coin bundles

COINJAR

GREAT FOR BEGINNERS

4.3/5

RATING 4.3

Thinking of buying crypto rating

30 +

1.0% based on the transaction amount

● PayID
● Osko
● Credit card
● Debit card
● Cash
● Bpay
● Bank Transfer

What is Shiba Inu?

    • Shiba Inu (SHIB) coin is a meme cryptocurrency that was launched after the massive success of the original meme token known as Dogecoin (DOGE).
    • Shiba Inu runs on the Ethereum blockchain network. and the total supply was initially fixed at 1 quadrillion. Out of this total supply, half the tokens were gifted to Vitalik Buterin who burned 90% of the coins and sent the remaining 10% to the India Covid-19 relief fund. This resulted in a lot of publicity for the Shiba Inu coin and has also helped reduce the supply and push up its value.
    • The Shiba Inu token has expressed its desire to shift to a decentralized organization (DAO) based governance in the future. Additionally, the Shiba Inu ecosystem has expanded rapidly and it has come up with a decentralized exchange known as ShibaSwap. The rise in popularity of SHIB has been unprecedented and the token has also served as an inspiration for many other meme coins.

Shiba Inu Army

Shiba Inu has delivered handsome returns to its early backers with the coin rapidly rising with 44437518% returns in a year. The SHIB coin has a massive community of supporters known as the Shiba Army that promotes the token on many social media channels. The team behind Shiba Inu also communicates regularly through various mediums.

Shiba Inu Price

Disclaimer: Past price action is not an indication of future performance. To find out if buying Shiba Inu coin is right for your personal circumstances speak with a financial advisor.
 

The SHIB token is currently trading at $0.000025 as per CoinMarketCap as of February 23rd 2022. You can view the actual Shiba Inu price below. 

Some institutions have also adopted the token as a payment cryptocurrency. The SHIB coin recently initiated plans to increase the burn rate in order to create scarcity. This might help to create the necessary hype for pushing the price of SHIB. The Shiba Inu community has also unveiled plans to enter the metaverse space and launch a game. The growing use cases for the SHIB coin might help in wide scale adoption and result in more institutional support for the cryptocurrency. 

The creators of Shiba Inu have chosen to remain anonymous and are known by the pseudonym Ryoshi. The meme coin has massive supporters and community backing has been identified as a significant reason for the coin’s success.

Payment Methods to buy Shiba Inu coin

Shiba Inu is a popular meme cryptocurrency and is widely available on most cryptocurrency exchanges around the world. Interested users can also pay through various options such as fiat currencies and cryptocurrencies.

Most exchanges also accept various payment options to buy Shiba Inu include:

  • Credit card
  • debit card
  • direct bank
  • PayPal
  • PayID
  • Cash
  • Bpay

Buy Shiba Inu on a Centralized Exchange

You can purchase the Shiba Inu coin on a centralized exchange such as CoinSpot.  CoinSpot is one of the best platforms to buy Shiba Inu in Australia. Read our coinspot review here.  

However, to purchase Shiba Inu on a centralized exchange, you will need to create and register an account. As part of the Know Your Customer (KYC) procedure, you will also need to provide proof of identity and address. 

The exchange will verify the documents and the account will be activated.  A driving licence or passport and a utility bill can be submitted to verify the account. These (KYC) rules are in place to secure the platform against fraud and manipulation. 

On CoinSpot, the account opening procedure is efortless and you can register an account in minutes. The exchange also provides 2FA and other options to provide extra security for your account. Coinspot has also received a 4.5 rating on Trust Pilot and provides service to about 2 million customers. The exchange also has a live support team that can help you in case you need help navigating the platform.

To sign up to a centralized exchange to buy Shiba Inu is a simple three-step process.

1. Account Registration Process: First, head over to the cryptocurrency exchange platform and click on the register option.

2. Account Verification Process: Click on the verification link to verify the account. You will then need to submit documents to prove your identity and address.

3. Deposit Funds: Funds can be deposited in the form of cryptocurrencies or Australian dollars. Some exchanges may also support other fiat currencies such as the US dollar, British Pound, and the Euro. Once the funds reflect in your account you can click on the “Trade” button. Now, select the cryptocurrency,  in this case, SHIB, and input the number of coins you wish to purchase. Click on the buy button to confirm your order. The purchased Shiba Inu tokens will be reflected in your wallet account once the order is processed.

Click here to find out how to buy Shiba Inu from a centralized exchange. 

Buy Shiba Inu on a Decentralized Exchange

It’s fair enough some traders prefer to stay anonymous. Some may not want to go through the KYC  (know your customer).

Purchasing Shiba Inu (Shib) coin on a decentralized exchange is another option. These exchanges do not insist on account registration or verification and you can purchase Shiba Inu tokens almost immediately. However, the risk of fraud is higher on such decentralized exchanges. 

The detailed procedure for purchasing SHIB tokens on a decentralized exchange is explained below. 

Step 1. Head over to a decentralized exchange such as Changelly or Local Cryptos and select SHIB cryptocurrency.

Step 2. There are many ways to process the payment. You can either pay in the form of another cryptocurrency such as Bitcoin or use fiat options.

Step 3. You will need to connect your personal cryptocurrency wallet such as Metamask or input your wallet address. Click on the confirm order button and the funds will be deposited into your wallet.

Some decentralized exchanges provide an escrow option. This option keeps the funds safe with the exchange and is released only when the other party confirms the order.. This is a better option and can provide some degree of protection against fraud.

However, since there is no registration process, the exchange cannot help the user in case there is some fraud.

Buy Shiba Inu Verdict

The Shiba Inu token has seen a lot of popularity and is coming up with various use cases to ensure that the SHIB token is widely adopted by investors. Many early holders of the SHIB coin have received handsome returns (but we all know past performance is not an indication of future performance). It’s always best to speak with a financial advisor before buying SHIBA Inu coin or any other cryptocurrency.

The token created history after gaining entrance into the elite club of the top ten cryptocurrencies by marketcap. The price has fallen since then but SHIB is currently in the top twenty cryptocurrencies by marketcap. At one time, the SHIB coin had even surpassed and displaced Dogecoin in value.

The SHIB token should see a rise in price and popularity once it develops more use cases and is expected as a payment currency by businesses all over the world. The Shiba Inu ecosystem also plans to introduce a layer 2 solution known as Shibarium.

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